The Genuine Progress Indicator A New Measure of Economic Development for the Northern Forest

摘要

The well-being of the Northern Forest of New York, Vermont, New Hampshire, and Maine depends on the economic vitality of its communities as well as its natural resource wealth, social interactions, health, and knowledge. Yet, classical measures of progress, such as the gross domestic product (GDP), are based solely on economic output. GDP is still often used as a measure of society's welfare despite growing evidence that more wealth and economic output do not always improve quality of life or well-being for individuals or society (Kahneman et al. 2004; Easterlin 2005). Economists and politicians, including some of the original architects of GDP accounting, have also noted that GDP is a poor measure of economic well-being.